Paramount Launches Hostile Bid for Warner Bros. Discovery, Challenging Netflix Takeover
Paramount has launched a hostile bid for Warner Bros. Discovery, challenging Netflix's recent $72 billion takeover agreement with the company. Paramount is offering Warner Bros. shareholders $30 per share in cash for the entire Warner Bros. Discovery, including its Global Networks segment, urging them to reject the deal with Netflix. The deal between Netflix and Warner Bros. Discovery, valued at $27.75 per Warner share, is expected to close in the next 12 to 18 months, excluding networks like CNN and Discovery. President Donald Trump expressed concerns about the size of the combined market share resulting from the Netflix-Warner Bros. Discovery deal.